Car-hailing group has managed to make itself appear modestly priced but growth strategy is still a worry … [Read more...] about Uber Technologies Inc
Uber technologies inc
Uber Technologies IPO
US markets recovered from session lows but still ended down as trade tensions weighed on investors’ minds for four straight days. The Dow Jones Industrial Average retreated 138.97 points, or 0.5%, to end at 25,828.36 after falling by as much as 450 points earlier whilst the S&P 500 index slipped 8.70 points, or 0.3%, to 2,870.72. The Nasdaq Composite Index dropped 32.73 points, or 0.4%, to end the session at 7,910.59. European markets also felt the pressures from global trade uncertainty with the region’s bourses closing lower. The pan-European Stoxx 600 index dipped 0.9% to 378.76 with Germany’s DAX also losing 0.9% to end at 12,068.28. The U.K.’s FTSE 100 moved 0.4% lower to 7,243.36 and France’s CAC 40 fell 1.2% to end at 5,354.3. Maltese markets meanwhile closed higher with the MSE Equity Total Return Index recovering from previous losses and closing up 0.226% at 9,630.769 points. Trident Estates Plc led the gains with shares jumping 4.26% to … [Read more...] about Uber Technologies IPO
Uber won’t face criminal charges in fatal 2018 Arizona self-driving car crash, prosecutor says
Uber Technologies Inc is not criminally liable in a March 2018 crash in Tempe, Arizona, in which one of the company's self-driving cars struck and killed a pedestrian, prosecutors said on Tuesday. The Yavapai County Attorney said in a letter made public that there was "no basis for criminal liability" for Uber, but that the back-up driver, Rafaela Vasquez, should be referred to the Tempe police for additional investigation. Prosecutors' decision not to pursue criminal charges removes one potential headache for the ride-hailing company as the company's executives try to resolve a long list of federal investigations, lawsuits and other legal risks ahead of a hotly anticipated initial public offering this year. The crash involved a Volvo XC90 sport utility vehicle that Uber was using to test self-driving technology. The fatal accident was a setback from which the company has yet to recover; its autonomous vehicle testing remains dramatically reduced. The accident was also a blow to the … [Read more...] about Uber won’t face criminal charges in fatal 2018 Arizona self-driving car crash, prosecutor says
Lawyer Who Won a Brexit Case Targets Uber Over $260 Million a Year in Taxes
The lawyer who spearheaded a landmark court case -- which ended with the European Union’s top court ruling that the U.K. can unilaterally reverse Brexit -- appeared in court Wednesday for a fresh battle, this time with Uber Technologies Inc.Jolyon Maugham, who runs a group that raises money for lawsuits that promote a progressive agenda, says Uber should pay Value Added Tax, a 20 percent U.K. sales tax on most goods and services. Uber says it doesn’t need to because it’s only acting as an intermediary between drivers and riders.Uber would owe 1 billion pounds ($1.3 billion) if Maugham won his case, once backdated payments are counted, Maugham said outside court, citing his own calculations.His lawyer Vikram Sachdeva said at the court hearing that the case could leave Uber liable for an estimated annual tax bill of 200 million pounds.The case centers on an Uber journey Maugham took in March 2017, which cost 6 pounds and 34 pence. He wants a court declaration that Uber … [Read more...] about Lawyer Who Won a Brexit Case Targets Uber Over $260 Million a Year in Taxes
Uber welcomes, unions criticise UK plan to maintain flexible gig…
LONDON (Reuters) - Uber Technologies Inc welcomed on Monday the British government’s response to a review into workplace rights, which looks set to preserve the business models of gig economy companies, but unions rubbished the business ministry’s plans. FILE PHOTO: Uber's logo is displayed on a mobile phone, September 14, 2018. REUTERS/Hannah Mckay/File Photo Firms like Uber, best-known for its ride-hailing service, and food courier Deliveroo, have been criticised for hiring workers on a self-employed basis, which means they are not entitled to many workplace rights, including the minimum wage. Uber and taxi service Addison Lee have lost court battles over the issue. A government-commissioned review looked into the matter of modern workplace practices and in response on Monday the business ministry said it would legislate to improve the clarity of the employment status tests. The government said its reforms reflect the review’s findings that completely … [Read more...] about Uber welcomes, unions criticise UK plan to maintain flexible gig…